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MDA Space Secures Major Contract for EchoStar’s Pioneering LEO Satellite Constellation

Story Highlights
  • MDA Space Ltd. is a leader in satellite technology for non-terrestrial networks.
  • EchoStar selects MDA for a $1.3 billion LEO satellite project to boost global 5G connectivity.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
MDA Space Secures Major Contract for EchoStar’s Pioneering LEO Satellite Constellation

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MDA Ltd ( (TSE:MDA) ) has shared an update.

EchoStar Corporation has selected MDA Space Ltd. as the prime contractor for its groundbreaking low Earth orbit (LEO) direct-to-device (D2D) satellite constellation, marking a significant advancement in non-terrestrial network technology. The contract, initially valued at approximately US$1.3 billion, involves the production of over 100 software-defined satellites, with potential expansion to over 200 satellites, ultimately enhancing global connectivity for 5G devices. This collaboration positions MDA Space as a leader in the NTN market, with the project expected to extend connectivity to underserved areas and integrate seamlessly with terrestrial networks, reinforcing EchoStar’s market presence and service capabilities in the U.S., Europe, and beyond.

The most recent analyst rating on (TSE:MDA) stock is a Buy with a C$34.00 price target. To see the full list of analyst forecasts on MDA Ltd stock, see the TSE:MDA Stock Forecast page.

Spark’s Take on TSE:MDA Stock

According to Spark, TipRanks’ AI Analyst, TSE:MDA is a Outperform.

MDA Ltd’s strong financial performance and positive earnings call are the most significant drivers of its stock score. The technical analysis and corporate events also contribute positively, though high valuation metrics slightly mitigate the overall score. The company’s strategic initiatives and strong market growth potential in the Aerospace & Defense sector bolster its outlook.

To see Spark’s full report on TSE:MDA stock, click here.

More about MDA Ltd

MDA Space Ltd. is a key player in the global space industry, specializing in the design and manufacturing of satellite technology. The company focuses on providing innovative solutions for non-terrestrial networks (NTN) and direct-to-device (D2D) satellite communications, catering to a diverse range of sectors including consumer, enterprise, public safety, and government.

Average Trading Volume: 496,073

Technical Sentiment Signal: Buy

Current Market Cap: C$4.84B

Learn more about MDA stock on TipRanks’ Stock Analysis page.

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